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Multifamily

1752 Cherry Ave

1752 Cherry Ave, Long Beach, CA 90813

Listing Price: $1,200,000

Cap Rate
4.85%
Number of Units
5
GRM
12.08
Price/Unit
$240,000
Price/Gross SF
$388.10
Gross SF
3,092

Investment Overview

Marcus & Millichap is pleased to present to market 1752 Cherry Avenue in Long Beach, California. With a strong unit mix of majority three-bedroom units, including a single-family home, 45 percent rental upside, and two units currently vacant, this is an excellent value-add opportunity in a strong coastal rental market.

1752 Cherry Avenue comprises a Craftsman three-bedroom/two-bath house, a triplex with one three-bedroom/two-bath unit, one three-bedroom/one-bath unit, and one studio, and a rear building that contains a non-conforming studio and a single-car garage. The property is gated and also offers four surface parking spaces.

Located in Eastside Long Beach just a few parcels south of Pacific Coast Highway, 1752 Cherry Avenue is centrally located and within 10 minutes of the 405 and 710 freeways as well as Cal State Long Beach. Additionally, Long Beach City College’s Pacific Coast Campus is just a few blocks away.

Investment Highlights

  • Property offers a strong mix of one three-bed/two-bath house, two additional three-bedroom units, and two studios (one studio is non-conforming)
  • Value-add opportunity with 45 percent rental upside and two units currently vacant
  • 8,500-Square foot lot is gated and offers four surface parking spaces and one single-car garage
  • Located in Eastside Long Beach within 10 minutes of the 405 and 710 freeways and Cal State Long Beach

Exclusively Listed By

Financing By

Multifamily

1752 Cherry Ave

Listing Price: $1,200,000

Cap Rate
4.85%
Number of Units
5
GRM
12.08
Price/Unit
$240,000
Price/Gross SF
$388.10
Gross SF
3,092

Investment Highlights

  • Property offers a strong mix of one three-bed/two-bath house, two additional three-bedroom units, and two studios (one studio is non-conforming)
  • Value-add opportunity with 45 percent rental upside and two units currently vacant
  • 8,500-Square foot lot is gated and offers four surface parking spaces and one single-car garage
  • Located in Eastside Long Beach within 10 minutes of the 405 and 710 freeways and Cal State Long Beach

Investment Overview

Marcus & Millichap is pleased to present to market 1752 Cherry Avenue in Long Beach, California. With a strong unit mix of majority three-bedroom units, including a single-family home, 45 percent rental upside, and two units currently vacant, this is an excellent value-add opportunity in a strong coastal rental market. 1752 Cherry Avenue comprises a Craftsman three-bedroom/two-bath house, a triplex with one three-bedroom/two-bath unit, one three-bedroom/one-bath unit, and one studio, and a rear building that contains a non-conforming studio and a single-car garage. The property is gated and also offers four surface parking spaces. Located in Eastside Long Beach just a few parcels south of Pacific Coast Highway, 1752 Cherry Avenue is centrally located and within 10 minutes of the 405 and 710 freeways as well as Cal State Long Beach. Additionally, Long Beach City College’s Pacific Coast Campus is just a few blocks away.

Exclusively Listed By

Financing By

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